Zaz’s Zuck Card, Fed Anxiety & The Next Youngkin

David Zaslav
Photo by Drew Angerer/Getty Images
William D. Cohan
February 6, 2022

This past week, Facebook’s announcement that its monthly and daily active users had plateaued sent its high-flying stock down some 25 percent, shedding around $230 billion of market value in the process. Analysts and investors wondered if there would be larger ramifications for the company—which has committed far worse non-financial sins—and for the broader social-media sector? Meanwhile, the next afternoon, Amazon exceeded earnings expectations and its stock gained $190 billion in market value, a one-day gain greater than that of any other company in history. In less than 24 hours, the company basically increased by the market value of two GEs.